Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report) was down 7.5% on Friday after Wells Fargo & Company lowered their price target on the stock from $1,180.00 to $865.00. Wells Fargo & Company currently has an overweight rating on the stock. Seagate Technology traded as low as $636.36 and last traded at $639.01. 6,069,463 shares were traded during mid-day trading, an increase of 38% from the average daily volume of 4,402,482 shares. The stock had previously closed at $690.81.
STX has been the topic of a number of other reports. Melius Research started coverage on shares of Seagate Technology in a research note on Monday, June 29th. They set a “buy” rating and a $1,600.00 price objective on the stock. TD Cowen upped their price objective on Seagate Technology from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Fox Advisors lowered Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $1,350.00 target price on shares of Seagate Technology in a research report on Wednesday, July 29th. Finally, Argus boosted their target price on Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $973.40.
Read Our Latest Stock Analysis on STX
Insider Transactions at Seagate Technology
In other news, EVP Ban Teh sold 52,730 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total value of $41,239,078.40. Following the completion of the transaction, the executive vice president owned 5,810 shares of the company’s stock, valued at $4,543,884.80. This represents a 90.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Morris sold 9,354 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $877.91, for a total transaction of $8,211,970.14. Following the completion of the transaction, the executive vice president owned 22,693 shares of the company’s stock, valued at approximately $19,922,411.63. This trade represents a 29.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 466,959 shares of company stock valued at $378,840,741. 0.51% of the stock is currently owned by company insiders.
Trending Headlines about Seagate Technology
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Wells Fargo maintained an “overweight” rating on Seagate while lowering its price target from $1,180 to $865. The revised target still implies approximately 35% upside from the referenced share price, suggesting the firm believes the selloff has been “well overdone.” Seagate and Western Digital Stocks Have Tanked on Toshiba Fears. Wells Fargo Is Still Bullish.
- Positive Sentiment: Seagate’s 44-terabyte Mozaic 4 drives could support further gross-margin expansion through higher storage density, improved cost efficiency and strong cloud-storage demand. The technology strengthens the company’s profitability outlook if adoption continues. Can Seagate’s 44TB Mozaic 4 Drives Lift Gross Margins Further?
- Positive Sentiment: A separate analysis argues that Seagate’s underlying business trends remain favorable, with data-storage demand expected to benefit from expanding cloud infrastructure and artificial-intelligence workloads. Seagate Could Have a Long Runway as Data Storage Demand Explodes
Hedge Funds Weigh In On Seagate Technology
Several large investors have recently modified their holdings of STX. Opal Wealth Advisors LLC grew its position in shares of Seagate Technology by 17.0% in the 3rd quarter. Opal Wealth Advisors LLC now owns 1,031 shares of the data storage provider’s stock valued at $951,000 after buying an additional 150 shares during the last quarter. Rise Advisors LLC bought a new position in shares of Seagate Technology during the third quarter worth about $223,000. Aspiriant LLC raised its position in shares of Seagate Technology by 13.0% during the third quarter. Aspiriant LLC now owns 677 shares of the data storage provider’s stock worth $624,000 after acquiring an additional 78 shares during the last quarter. Perryman Financial Advisory Inc. AD raised its position in shares of Seagate Technology by 79.0% during the third quarter. Perryman Financial Advisory Inc. AD now owns 931 shares of the data storage provider’s stock worth $859,000 after acquiring an additional 411 shares during the last quarter. Finally, Pension & Wealth Management Advisors Inc. acquired a new position in shares of Seagate Technology in the third quarter worth approximately $993,000. Institutional investors own 92.87% of the company’s stock.
Seagate Technology Stock Performance
The stock has a 50 day moving average of $845.85 and a 200 day moving average of $802.60. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $145.30 billion, a price-to-earnings ratio of 46.04 and a beta of 2.06.
Seagate Technology (NASDAQ:STX – Get Free Report) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the firm earned $2.59 earnings per share. Seagate Technology’s quarterly revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, analysts predict that Seagate Technology Holdings PLC will post 35.70 EPS for the current year.
Seagate Technology Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Thursday, September 24th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, September 24th. Seagate Technology’s payout ratio is presently 21.33%.
About Seagate Technology
Seagate Technology Holdings plc is a data storage technology company that designs, manufactures and supplies solutions for storing, managing and accessing digital information. Its product portfolio is centered on hard disk drives (HDDs), including high-capacity drives used in cloud data centers, enterprise environments, surveillance systems, network-attached storage and personal computing.
The company also offers solid-state drives (SSDs), storage systems, external storage products and related services.
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